Quote from: rosezionjohn on July 19, 2019, 09:56:35 AM

Quote from: Rockie1234 on July 19, 2019, 09:42:35 AM

Of course, I am not blaming them, but I feel that IEOs should be discouraged for the reasons I gave. Actually I wasn't aware of the IDEX verification stuff, that is terrible. I dont expect major exchanges to make these DEXs, but there are existing ones like Bisq which look promising, even though they are hard to use. But the IDEX situation surely supports my point; even IDEXs are bowing down to regulation even though many of them were built for privacy. All I mean is we need a good DEX otherwise purchasing Bitcoin will be as difficult as purchasing traditional financial assets.

I've read some discussions about the pros and cons of IEOs and one of the cons is what you pointed out. It's true that they will be given more control/power but what can you do when it's the people that wants to give them power.

I'm not sure how long this IEO trend will last after the IDAX IEO scam (faking volume) was exposed though.

Here's the article to IDEX btw https://medium.com/idex/idex-kyc-transition-period-and-updated-asset-availability-for-us-markets-set-to-begin-d45e945f842d

Yes, you are right to some extent, people seem to be in favour of IEOs. My concern is that the bull run has brought a new type of investor who knows little about the original Bitcoin ideals, with decentralised money being a key part of the currency. What is your opinion on Bisq exchange? Is there market potential in creating a new DEX project?

Quote from: cliber on July 19, 2019, 10:14:38 AM

Quote from: Rockie1234 on July 19, 2019, 09:21:53 AM

Recently, I've seen a lot of positive press regarding IEOs. After all, Binance is already successfully running them, giving ICO projects a chance to shine and many other exchanges are following suit.
My personal opinion is that IEOs should be discouraged. Firstly, it gives more and more power to these centralised exchanges, who are able to charge higher, more ridiculous listing fees for coins as well as extremely large payments to hold IEOs. Their vested interests in this way mean they are less likely to care about vetting projects that may be untrustworthy, leading to even more irresponsible behaviour.

Exchanges are already making far too much from listing fees, so IEOs on top are completely unnecessary. While they are good promotion for coins, such practices cannot be good in the long-term.
Instead, the focus should be easy-to-use decentralised exchanges which don't require intrusive KYC/AML and are much less likely to be corrupt/ill-willed if some DAO-like structure is in place. While blockchain technology has made the storage of data much safer, what is the point if thousands of crypto exchanges hold endless amounts of data on the customers in the same way banks do? The only thing changing is who owns the data, so privacy has not improved. And as crypto adoption increases, so will regulation of exchanges.
We don't want to end up in a situation where to trade any meaningful amount of crypto you have to send your name, address, ID, and bank account details to some exchange which can do whatever it likes with your data.

Your thoughts?

I appreciate you because my mind is not like your thoughts that are too far from crypto. So far, I have only adopted people, meaning that if people say the IEO is better than ICO, then I follow them, arguing that the IEO is better. But, after I read this post, I had to learn a lot about crypto.
I agree that blockchain technology is safer when it comes to data storage.

Glad I can help! If you are interested in these kinds of things, I would recommend reading about the Electronic Frontier Foundation and about the "cypherpunks" here: https://en.wikipedia.org/wiki/Cypherpunk If this info helped you a lot I would be very glad if you merited my post although it is completely up to you.